Gambling Webhosting and Licensing

Tuesday, 3 February 2015

Online Gambling Jurisdictions - Gibraltar

Gibraltar is
classified as a British Overseas Territory and is located at the southernmost
tip of Europe boarding Spain. There are around thirty operators have been
issued online gambling licences under the Gambling Ordinance 2005 since 1998.

Corporation Tax Rate:10%;

however;
utility companies and companies that abuse a dominant position are subject to
20%.

Gaming Tax Rate:
1% of annual turnover up to £42.5million, with gaming tax capped at £425,000
per year.

Who manages E-Gambling in Gibraltar?

All gambling operations in Gibraltar require licensing
under the Gambling Act 2005. Remote Gambling licences, including those for telephone
and internet betting, are issued by the Licensing Authority.

The Gambling Commissioner is appointed under the
provisions of the Act and can issue and revoke licenses in accordance
with the contracts and in such a manner as to maintain the good reputation of
Gibraltar.

The Gibraltar Betting and Gaming Association (GBGA) is a trade association
representing nearly all of the Gibraltar based online gaming operators and
acting as a go between for the local and international authorities. They cannot
issue licences but can offer advice and assistance.

Overview:

Online Licences are generally difficult to obtain. The
Licensing Authority will only consider licensing blue chip companies with a
proven track record in gambling, licensed in a reputable jurisdiction, of good
financial standing and with a realistic business plan.

Customer
Privacy and Data Protection:Licensees are required
by the Licensing Authority to obtain at least the following basic personal
information with regard to all prospective customers. This shall include full
name; residential address; and date of birth. Upon obtaining the required
information and completing any due diligence arising there from, the licensee
shall be entitled to deal with the customer as a registered player.

Licence Fee:
£2,000

Licence Length:
One year

Software Testing Requirements:Required in accordance with the
Remote Technical and Operating Standards of Gibraltar.

Reporting Requirements to Regulators:
The licensee shall be required to produce audited accounts to the Licensing
Authority each year during the Licence period and maintain its financial
records in accordance with the applicable law from time to time. The licensee
shall also be required to meet all its accounts and filing requirements as set
out in the Companies Act, the Companies (Accounts) Act and Companies
(Consolidated Accounts) Act and any other applicable legislation.

Anti-Money Laundering Policy:The Anti-Money Laundering Code of
Practiceis ‘interpretive
guidance’ to the Gibraltar gambling industry in respect of the requirements of
the Act, the Gibraltar Crime (Money Laundering and Proceeds) Act, and the 3rd
EU Anti-Money Laundering Directive. This Code applies to all financial
transactions associated with defined gambling activities undertaken under the
authority of a Gibraltar gambling licence.

Gibraltar Restrictions:
Restriction on acting as a betting intermediary except under licence.

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